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When it comes to buying or selling a home let my 17 years of real estate experience work to your benefit. My area of service is in Chicago and the West suburbs. Areas include Berwyn, Brookfield, Broadview, Countryside, Stickney, Lyons, LaGrange, and Westchester. In todays market it is important to have an agent that will guide you through the process of buying or selling a home along with explaining the changing market that we are currently faced with. If you would like to find out more about my services, please feel free to call me at 708 860-0497
John Sommese:…'s Questions (1)
John Sommese:…'s Answers (9)
John Sommese: Skydan Real Estate answered:
Most rent to own situations would require you to buy within a 1 year period. So you will still be in the same situation as you are in now. The only thing that may change is the downpayment that you will be putting down. Consider that for every $10,000 you put down on a home, it will only change your payment by $70/ month. So putting more money down may not put you in a better situation. You should also take into account that there are more homes for sale then homes with a rent to own option. So you would be reducing the choices that are available at this time. To find these rent to own properties you can look in the local paper or get in contact with a realtor who may know of sellers that would be willing to accept a rent to own situation. - Mon Apr 28 2008, 08:01
John Sommese: Skydan Real Estate answered:
Brad, make sure you do your homework. At this time there are 133 condos in the Oak Park area that are on the market. As far as pricing goes, you will pay less money in a complex for the lower level units. When you go to sell the condo, you have to make sure you price it below the sales price for the upper units. If you sell 3-5 years from now you should be fine with making some money. Good Luck - Fri Apr 18 2008, 11:21
John Sommese: Skydan Real Estate answered:
Zach, My personal opinion is that it would be beneficial for a buyer to look into the sales in the last 1-2 months. This will give an indication of what is happening in the current market. For a realtor or buyer to go back 6-9 months for a comparable would not give a true picture of the condition of the current market. If you need to go back 6-9 months to get a comparable, keep in mind that you will have to adjust the price based on the decrease in the area that took place over the past months. If you don't know what the adjustment is, consult a realtor or look up stats for your area on the net. Also ,keep in mind that no one can tell you where the bottom of the market is, but I can tell you that there are some exceptional deals out there. - Wed Apr 16 2008, 09:51
John Sommese: Skydan Real Estate answered:
Rob, At this point in time the interest rates are very attractive. Prices of homes have adjusted to what they were in 2004-2005. In some cases, you are able to find sellers in situations were they need to get the home sold and are very motivated. With all these factors coming into play, it seems like the best opportunity to purchase a home. Another deciding factor, and most important, is being a homeowner as opposed to a renter. Keep in mind that the taxes and interest on a home is a write-off every year. You will also realize an average appreciation over a period of time between 4-7% per year. So if you come across the right property, buy it !!! - Mon Apr 14 2008, 07:55
John Sommese: Skydan Real Estate answered:
Tracy,
There are some villages that have pre-inspections that will give you a list of the repairs required by the village. In most cases the listing agent will have a list of the repairs as well as any escrows that need to be set up. An escrow for repairs is an account set up where the buyer will have to put up money to guarantee that the repairs will be completed in a timely manner after the closing. - Tue Apr 8 2008, 09:03
1st Time Home buyers, Condo purchases, Move up buyers. NO PAYMENTS FOR 6 MONTHS, Low interest rate loans. If your thinking of selling your home, my marketing plan by far with show you the many different ways of getting your home sold for the highest amount of money in the shortest time.
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Real Estate Consultant for
Skydan Real Estate Sales
I began my real estate career back in 1991 where I worked for Century 21 for a year and then switched over to RE/MAX for the next 15 years. I recently made a change to Skydan Real Estate where I'm able to offer a large inventory of condos and homes ranging in price from $95,000 - $1 million. I specialize in helping 1st time buyer into the home with special programs such as NO PAYMENTS FOR 6 MONTHS and Low Interest Rate Loans.
January 1991—present
Consistant Top Producer with sales that rank in the TOP 1% NATIONALLY. Over 400 homes sold.
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